PHARMACOECONOMICS: A REVIEW OF METHODS AND APPLICATIONS
Keywords:
Pharmacoeconomics, Cost-Minimization Analysis, Cost-Effectiveness Analysis, Cost-Benefit Analysis, healthcare decision-making, pharmaceutical industry, economic evaluation, data quality, ethical considerations, technological advancements, global health initiatives.Abstract
Pharmacoeconomics plays a crucial role in healthcare decision-making by assessing the economic efficiency of pharmaceutical interventions. This review examines key methodologies in pharmacoeconomics, including Cost-Minimization Analysis (CMA), CostEffectiveness Analysis (CEA), and Cost-Benefit Analysis (CBA), highlighting their applications in healthcare policy and pharmaceutical industry. The paper explores challenges such as data availability and ethical considerations, and discusses emerging trends like technological advancements and global health integration. By synthesizing current literature from 2012 to 2021, this review underscores the evolving landscape of pharmacoeconomics and its implications for optimizing healthcare resource allocation and improving patient outcomes.
Downloads
References
Drummond MF, Sculpher MJ, Claxton K, Stoddart GL, Torrance GW. Methods for the
Economic Evaluation of Health Care Programmes. 4th ed. Oxford University Press;
Johnson FR, Lancsar E, Marshall D, Kilambi V, Mühlbacher A, Regier DA, et al.
Constructing Experimental Designs for Discrete-Choice Experiments: Report of the
ISPOR Conjoint Analysis Experimental Design Good Research Practices Task Force.
Value Health. 2013;16(1):3-13.
Garrison LP Jr, Towse A, Bresnahan BW. Assessing value: perspectives for a valuebased pricing framework in the USA. Expert Rev Pharmacoecon Outcomes Res.
;18(6):561-573.
Ubel PA, Hirth RA, Chernew ME, Fendrick AM. What is the price of life and why
doesn't it increase at the rate of inflation? Arch Intern Med. 2003;163(14):1637-1641.
Jones AM, Wildman J. Health, income and relative deprivation: evidence from the
BHPS. J Health Econ. 2008;27(2):308-324.
Walsh D, Downe S. Meta-synthesis method for qualitative research: a literature review. J
AdvNurs. 2005;50(2):204-211.
Danzon PM, Towse A. Differential pricing for pharmaceuticals: reconciling access, R&D
and patents. Int J Health Care Finance Econ. 2003;3(3):183-205.
Smith RD, Keogh-Brown MR, Barnett T, Tait J. The economy-wide impact of pandemic
influenza on the UK: a computable general equilibrium modelling experiment. BMJ.
;339
Brown TM, Siu AL, Sudore R. Advance care planning and health care preferences of
community-dwelling elders: the Framingham Heart Study. J Am Geriatr Soc.
;57(5):979-984.
Johnson DW, Craig JC, Strippoli GF. Use of placebo in clinical trials of kidney transplant
recipients: a systematic review. Transplantation. 2003;75(8):1281-1287.
Gold MR, Siegel JE, Russell LB, Weinstein MC. Cost-Effectiveness in Health and
Medicine. Oxford University Press; 1996.
Salomon JA, Vos T, Hogan DR, Gagnon M, Naghavi M, Mokdad A, et al. Common
values in assessing health outcomes from disease and injury: disability weights
measurement study for the Global Burden of Disease Study 2010. Lancet.
;380(9859):2129-2143.
Neumann PJ, Cohen JT, Weinstein MC. Updating cost-effectiveness—the curious
resilience of the $50,000-per-QALY threshold. N Engl J Med. 2014;371(9):796-797.
Weinstein MC, Stason WB. Foundations of cost-effectiveness analysis for health and
medical practices. N Engl J Med. 1977;296(13):716-721.
Detsky AS, Naglie G, Krahn MD, Naimark D, Redelmeier DA. Primer on medical
decision analysis: Part 1—Getting started. Med Decis Making. 1997;17(2):123-125.
Briggs AH, Weinstein MC, Fenwick EA, Karnon J, Sculpher MJ, Paltiel AD. Model
parameter estimation and uncertainty: a report of the ISPOR-SMDM Modeling Good
Research Practices Task Force Working Group-6. Med Decis Making. 2012;32(5):722-
Fenwick E, Marshall DA, Levy AR, Nichol G. Using and interpreting cost-effectiveness
acceptability curves: an example using data from a trial of management strategies for
atrial fibrillation. BMC Health Serv Res. 2006;6:52.
Siegel JE, Weinstein MC, Russell LB, Gold MR. Recommendations for reporting cost effectiveness analyses. Panel on Cost-Effectiveness in Health and Medicine. JAMA.
;276(16):1339-1341.
Buxton MJ, Drummond MF, Van Hout BA, Prince RL, Sheldon TA, Szucs T, et al.
Modelling in economic evaluation: an unavoidable fact of life. Health Econ.
;6(3):217-227.
Johannesson M, Jönsson B. Economic evaluation in health care: is there a role for costbenefit analysis? Health Policy. 1991;17(1):1-23.
Downloads
Published
Issue
Section
License
You are free to:
- Share — copy and redistribute the material in any medium or format for any purpose, even commercially.
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
- The licensor cannot revoke these freedoms as long as you follow the license terms.
Under the following terms:
- Attribution — You must give appropriate credit , provide a link to the license, and indicate if changes were made . You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
Notices:
You do not have to comply with the license for elements of the material in the public domain or where your use is permitted by an applicable exception or limitation .
No warranties are given. The license may not give you all of the permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.
